Welcome to our dedicated page for Ttm Technologies news (Ticker: TTMI), a resource for investors and traders seeking the latest updates and insights on Ttm Technologies stock.
TTM Technologies, Inc. (NASDAQ: TTMI) is a global manufacturer of technology products and technology solutions, with a focus on mission systems, RF components, RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards (PCBs). Company news releases emphasize that TTM’s time-to-market orientation supports customers in reducing the time needed to develop and launch new electronic products.
This news page aggregates coverage of TTM Technologies’ announcements, including quarterly financial results, investor conference participation, product introductions, certifications, and industry recognition. For example, the company reports on its quarterly performance, end-market demand trends across aerospace and defense, automotive, data center computing, networking, and medical/industrial/instrumentation, and provides outlook commentary through press releases and Form 8-K filings.
Readers can also find updates on TTM’s RF & Specialty components, such as new ultra small RF crossover and splitter products designed for telecom, test and measurement, and COTS mil-aero applications. Other news items highlight cybersecurity milestones like CMMC Level 2 appraisal, as well as awards from organizations such as the Global Electronics Association and participation in electronics trade fairs and investor conferences.
By following TTMI news, investors and industry observers can review how TTM communicates its operating performance, market exposure, technology developments, and corporate governance events over time. This page provides a centralized view of TTM Technologies’ public disclosures and press releases related to its business activities and TTMI stock.
TTM Technologies (NASDAQ: TTMI) has acquired Telephonics Corporation for approximately $330 million in cash, enhancing its capabilities in the Aerospace and Defense market. This strategic acquisition allows TTM to expand its product offerings and improve its position in surveillance and communications. The deal is expected to generate approximately $12 million in annual cost synergies by the end of 2024 and be immediately accretive to non-GAAP EPS. TTM plans to finance the acquisition using its substantial cash reserves of $519.1 million as of Q1 2022.
Griffon Corporation (NYSE:GFF) has successfully completed the sale of Telephonics Corporation to TTM Technologies, Inc. (NASDAQ:TTMI) for $330 million in cash. This significant transaction aims to unlock immediate value for Griffon's shareholders while enhancing the company's balance sheet. Ronald J. Kramer, Chairman and CEO of Griffon, expressed optimism about the future of Telephonics under TTM's ownership, highlighting its long-standing history with Griffon. Lazard and J.P. Morgan acted as financial advisors for the respective companies involved.
SANTA ANA, Calif., May 19, 2022 – TTM Technologies (NASDAQ:TTMI) announced its management team will attend several upcoming investor conferences. Key events include the Barclays High Yield Bond Conference on May 24, the J.P. Morgan Technology Conference on May 25 at 9:20 am ET, the virtual Craig-Hallum Conference on June 1, and the UBS Global Industrials Conference on June 7 at 4:20 pm ET. The Baird Conference is set for June 8 at 3:10 pm ET, followed by the Stifel Conference on June 9 at 3:00 pm ET. All presentations will be webcast live on TTM's website.
TTM Technologies, Inc. (TTMI) reported a strong first quarter for fiscal 2022, with net sales of $581.3 million, up from $526.4 million in the same period last year. GAAP net income reached $17.2 million or $0.17 per diluted share, a turnaround from a net loss of $3.2 million in Q1 2021. The company also announced plans for a greenfield production facility in Malaysia and an agreement to acquire Telephonics Corporation, enhancing its capabilities in aerospace and defense. The outlook for Q2 2022 revenue is projected between $580 million and $620 million.
Griffon Corporation (NYSE:GFF) reported second quarter fiscal 2022 results with revenue reaching $779.6 million, up 36% year-over-year. Excluding the Hunter acquisition, revenue increased 23% to $708.8 million. Income from continuing operations surged to $58.6 million, or $1.10 per share. Adjusted EBITDA also rose significantly to $139.6 million, a 113% increase from the prior year. The Company announced plans to sell Telephonics to TTM Technologies for $330 million. Future investments are expected to yield annual savings of $25 million. The Company maintains a robust cash position with $122.3 million in cash and a net debt of $1.84 billion.
TTM Technologies has commenced the construction of a new manufacturing plant in Penang, Malaysia, with a capital investment of $130 million planned through 2025. This facility aims to enhance supply chain resiliency and diversification beyond China, catering to advanced technology PCB demands. The plant is expected to generate approximately $180 million in run-rate revenue by 2025, with construction slated for completion in 12 to 15 months. TTM's expansion reflects a response to customer needs for improved operational capabilities.
Griffon Corporation (NYSE:GFF) has agreed to sell Telephonics Corporation to TTM Technologies, Inc. (NASDAQ:TTMI) for $330 million in cash. This transaction aims to enhance long-term shareholder value by strengthening Griffon's balance sheet and refocusing its resources on core businesses. The deal is expected to close in the second calendar quarter of 2022, pending regulatory approvals. Lazard and J.P. Morgan are serving as financial advisors for Griffon and TTM, respectively.
TTM Technologies (NASDAQ: TTMI) announced its agreement to acquire Telephonics Corporation for approximately $330 million in cash from Griffon Corporation. This acquisition aims to enhance TTM's capabilities in the Aerospace and Defense market by expanding its product offerings into engineered system solutions and surveillance communications. Expected benefits include deepening relationships with defense customers and an increase in revenues from the Aerospace and Defense segment, projected to reach 40% of total revenues, or about $1 billion. The deal is anticipated to be immediately accretive to non-GAAP EPS.
TTM Technologies, Inc. (NASDAQ:TTMI) is set to discuss its first quarter fiscal year 2022 performance during a conference call on May 4, 2022, at 4:30 p.m. ET. The company will release its financial results after market close on the same day. Investors can participate by dialing 888-220-8474 or 323-794-2588 for international access. The call will also be available for a week on the company's website. TTM Technologies specializes in advanced printed circuit boards and aims to reduce time-to-market for product development.
TTM Technologies (NASDAQ: TTMI) has enhanced its Xinger® brand by launching new high power couplers tailored for 5G MIMO and O-RAN applications. The new products, covering sub-6GHz 5G bands (1.7GHz – 6.3GHz) include models X4C20J1-03G to X4C55J1-03G, known for their compact size (2mm x 1.6mm) and superior performance with low insertion loss and 5W power handling. This expansion reflects TTM's commitment to meet customer demands for high-performance solutions. The couplers are available through authorized distributors including Richardson RFPD, Digi-Key, and Mouser.